Financial institutions and payees often provide online services to their customers, many of which may be performed at least in part via payment service providers. In one example, payment service providers can complete payment transactions to payees on behalf of a payor, which may also be a customer (also referred to as a “subscriber”) of the payment service provider. A payment service provider typically receives a payment request and then will typically either print and mail payments to the payee or process the payments electronically.
Payors may manage the timing of making payments, such as to retain control of funds as long as possible, to avoid late payments, and to coordinate with available funds or cash flow. Similarly, payment service providers also desire to control the timing of issuing payments on behalf of their customers and/or the delivery methods used.